democracynow on Oct 16, 2013
http://www.democracynow.org – The partial shutdown of the federal government has entered its 16th day and the nation is now on the brink of a default as the government’s borrowing authority ends tomorrow. On Tuesday, Fitch Ratings warned it could cut the the U.S. government’s triple-A debt rating if a deal to raise the debt limit is not reached.
In a statement Fitch said, “The prolonged negotiations over raising the debt ceiling … risks undermining confidence in the role of the U.S. dollar as the preeminent global reserve currency, by casting doubt over the full faith and credit of the U.S.” The Senate appears to moving closer to a deal to reopen the government and raise the debt limit, but the Republican-controlled House of Representatives failed twice Tuesday to produce its own plan. As lawmakers continue to debate a possible deal to reopen the government, the impact of the shutdown is being felt across the country. North Carolina has become the first state to halt its welfare program due to the shutdown. “It’s meant a lot of pain for a lot of Americans, infants that have lost support for nutrition, children that have been thrown out of HeadStart, safety measures that are not taken because the weather buoys are no longer manned, the list can go on, and the effects accumulate each day,” says Robert Borosage, founder and president of the Institute for America’s Future and co-director of its sister organization, the Campaign for America’s Future. He recently wrote an article for Reuters called, “Tea Party zealots hold the public debate hostage.” We are also joined by Amanda Terkel, senior political reporter and politics managing editor at The Huffington Post.